Consortium led by WHP Global looking to buy Express (Il Sole 24 Ore Radiocor) - New York, 22 Apr - US retailer Express said a group of investors led by brand management firm WHP Global was looking to save the company by acquiring it as the fashion chain filed for Chapter 11 bankruptcy protection.

In a statement Express said it had received a non-binding letter of intent from a consortium led by WHP Global "for the potential sale of a substantial majority of the Company's retail stores and operations".

It said to facilitate the sale process, Express and its subsidiaries had filed voluntary Chapter 11 petitions in the US Bankruptcy Court for the District of Delaware.

The retailer whose portfolio includes brands such as Express, Bonobos and UpWest Express, said it planned to close approximately 95 EXPRESS retail stores and all UpWest stores with closing sales at affected stores scheduled to begin on April 23, 2024.

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(RADIOCOR) 22-04-24 18:36:21 (0613) 5 NNNN